During the 70’s, there were four independent Stock Exchanges, namely Hong Kong Stock Exchange, Far East Stock Exchange, Kam Ngan Stock Exchange and Kowloon Stock Exchange, and individual members were only allowed to trade in their own stock exchange. This remained until 1977 when the Federation of Stock Exchanges, aimed to open up the Hong Kong stock market and strengthen the participation of public investors, announced members of the four exchanges were allowed to cross trade. As a result of this significant change, communication and cooperation among stockbrokers became more important. The establishment of an association for all stockbrokers was a necessity.
With the common goal to enhance the exchanges’ co-operation, to protect the rights and interest of stockbrokers and to reinforce the long-term development of the industry, a group of 14 members from these 4 different stock exchanges subscribed to the Memorandum of the Association in early 1978, which was then incorporated on 19 May 1978. With the inauguration of the first Committee on 28 September 1979, the Association started to function as a bridge among the securities industry, the regulatory authorities and the public investors.
Group Photo of 14 Promoters of the Association
(From left to right) Mr Sze Tat Shing, Paul, Mr Lam Sau Yin, Mr Choi Ming Yan, Mr Cheung Kwok Wai, Mr Henry Woo, Mr Ho Ting Sik, Mr Leung Him, Mr Tung Wai, David, Mr Cheung Tin Sang, Mr Kam Bing Tong, Joseph, Mr Jose Augusto Maria Da Rosa, Mr Tsun Chi Yuen, Mr Chan Chak Man, Mr Lau Ah Kee